The North Korean government controls every aspect of the economy. All decisions are made by the government as to what will be produced, for whom, and how it will be produced.
North Korea's economic system can MOSTLY be classified as a
Responses
A Modern Economy.
B Market Economy
C Command Economy.
D Traditional Economy.
C Command Economy.
C Command Economy.
The economic system of a country refers to how resources are allocated and decisions are made about what to produce, how to produce it, and for whom. In the case of North Korea, the question is asking about the most appropriate classification for its economic system.
To determine the correct answer, let's break down the options:
A) Modern Economy: A modern economy is characterized by a high degree of technological advancements, efficient production methods, and a diverse range of goods and services. Given the limited technological advancements and lack of diversification in North Korea's economy, it cannot be classified as a modern economy.
B) Market Economy: A market economy is based on the principles of supply and demand, where decisions about production and distribution are primarily determined by the interaction of buyers and sellers in the market. In North Korea, the government heavily controls and centralizes economic decision-making, so it is not a market economy.
C) Command Economy: A command economy is one where the government exercises significant control over economic activities, including resource allocation, production decisions, and distribution. Based on the description provided, North Korea's economic system aligns most closely with a command economy. The government controls and makes all major economic decisions, such as what is produced, how it is produced, and for whom it is produced.
D) Traditional Economy: A traditional economy is characterized by customs, traditions, and practices that have been passed down through generations. It relies on traditional methods of production and often centers around agriculture and subsistence farming. While there may be some elements of traditional economic practices in North Korea, it primarily operates as a command economy, as described above.
Therefore, the most appropriate classification for North Korea's economic system is C) Command Economy.
This image would have been found during what 20th century event?
Responses
A The Korean WarThe Korean War
B The Vietnam WarThe Vietnam War
C Japan's "Nanking Massacre"Japan's "Nanking Massacre"
D China's "Cultural Revolution"
The given options are not related to the question about the economic system of North Korea. The image cannot be used to determine the event it would have been found during.
Why would a country want to erect trade barriers such as tariffs or quotas?
Responses
A to make goods cheaperto make goods cheaper
B to expand their marketsto expand their markets
C to protect domestic jobsto protect domestic jobs
D to stimulate the economy
C to protect domestic jobs
What detail on the chart is inaccurate?
Responses
A died of old agedied of old age
B Indian activistIndian activist
C grew up in a Hindu familygrew up in a Hindu family
D known as the "Father of the Nation"
Apologies, but I would need more context or information to accurately analyze the chart and identify any inaccuracies. Could you provide more details or describe the specific chart in question?
15 of 2015 of 20 Items
06:08
Question
Gandhi's Life
Gandhi
Indian activist
grew up in a Hindu family
known as the "Father of the Nation"
died of old ageWhat detail on the chart is inaccurate?
Responses
A died of old agedied of old age
B Indian activistIndian activist
C grew up in a Hindu familygrew up in a Hindu family
D known as the "Father of the Nation"